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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 13. REGULATION OF PROFESSIONALS |
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Subtitle D. OTHER PROFESSIONALS |
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Chapter 4152. REINSURANCE INTERMEDIARIES |
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Subchapter G. DISCIPLINE AND ENFORCEMENT |
Sec. 4152.301. GROUNDS FOR LICENSE DENIAL OR DISCIPLINARY ACTION
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The department may deny an application for a license or discipline a license holder under Subchapter C, Chapter 4005, if the department determines that the applicant or license holder, or a person who would be authorized to act on behalf of the applicant or license holder under Section 4152.057, has:
(1) wilfully violated or participated in the violation of this chapter or another insurance law of this state;
(2) intentionally made a material misstatement in the license application;
(3) obtained or attempted to obtain the license by fraud or misrepresentation;
(4) misappropriated, converted to the person's own use, or illegally withheld money required to be held in a fiduciary capacity;
(5) materially misrepresented the terms or effect of any contract of insurance or reinsurance, or engaged in any fraudulent transaction; or
(6) been convicted of a felony or of a misdemeanor of which criminal fraud is an essential element.